Northeast sees eight-year high in home builder confidence

The NAHB said that for the first time since the spring of 2006, a majority of home builders in the Northeast feel more confident about the market.

Though the region’s starts on new single-family homes declined 5.5 percent during the first nine months of 2012, construction in multifamily dwellings has been robust. The association’s index of builder confidence in the U.S. market for new single-family homes increased by four points, the Wall Street Journal reports. It still remains to be seen if this trend will continue in the coming months.